Bailey, 27, is eligible for arbitration for the final time going into the 2014 season. He will get a raise over last season’s $5.35 million salary, especially since he had the best season of his career (3.49 ERA in 209 innings) and threw a no-hitter. Fay writes that it makes sense for the Reds to move Bailey if they don’t think they can sign him to a contract extension.

If the Reds do trade Bailey, they could reunite with starter Bronson Arroyo, whose market hasn’t been nearly as strong as anticipated as he remains available in the free agent market.